Providence touts prospects off east, north Ireland

By OGJ editors
HOUSTON, Nov. 2 -- Rock physics modeling and a seismic inversion study have revealed the presence of a potential direct hydrocarbon indicator at the top of the primary Lower Triassic reservoir interval at a prospect in the Irish Sea 10 km off Dublin, said Providence Resources PLC, Dublin.

The Dalkey Island prospect is in 25 m of water in the Kish Bank basin. Providence holds an operated 50% equity interest in Licensing Option 08/2 with its partner, Star Energy Group.

Direct hydrocarbon indicators have been noted from analogous producing oil and gas fields in the Liverpool Bay producing area. In addition, detailed petroleum systems analysis has suggested that the underlying Carboniferous section, which to date has not been drilled in the basin, may also be prospective for oil, Providence said.

This potential has been highlighted by the 33/22-1 well, which was drilled on the edge of basin and which encountered residual oil in Upper Carboniferous sands. Seismic mapping of the Upper Carboniferous has revealed a large structural trap that directly underlies the Lower Triassic Dalkey Island prospect.

Meanwhile, Providence has been offered an exploration license over Rathlin Island, off Northern Ireland in the North Channel 90 km north of Belfast. Northern Ireland’s Department of Enterprise, Trade and Investment offered the license in response to Providence’s application.

The initial license term is 5 years with a decision on a well commitment required within 3 years. Providence committed to perform technical studies of the subsurface geology during the first 3 years to determine the petroleum potential and inform the decision on the well commitment. Providence will operate the license with 100% equity interest.

Providence pointed to hydrocarbon shows and recovery of some oil on test at the 2008 Ballinlea-1 onshore well at a location interpreted to be on the Rathlin basin margin. The island is interpreted to directly overlie the most mature and potentially most productive part of the basin, the company said.